Flexsteel Industries Stock Forecast
Volatile ride for Flexsteel Industries stock price on Monday moving between $35.31 and $39.49
(Updated on May 06, 2024)
The Flexsteel Industries stock price fell by -1.17% on the last day (Monday, 6th May 2024) from $37.53 to $37.09. During the last trading day the stock fluctuated 11.82% from a day low at $35.31 to a day high of $39.49. The price has risen in 6 of the last 10 days but is still down by -2.34% for this period. Volume has increased on the last day by 14 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 25 thousand shares were bought and sold for approximately $918.61 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.62% during the next 3 months and, with a 90% probability hold a price between $38.19 and $49.85 at the end of this 3-month period.
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FLXS Signals & Forecast
There are mixed signals in the stock today. The Flexsteel Industries stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $37.47. On a fall, the stock will find some support from the short-term average at $36.77. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Flexsteel Industries gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 12.53%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Flexsteel Industries stock
On the downside, the stock finds support just below today's level from accumulated volume at $34.00 and $33.99. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Flexsteel Industries finds support just below today's level at $34.00. If this is broken, then the next support from accumulated volume will be at $33.99 and $33.90.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.18 between high and low, or 11.82%. For the last week, the stock has had daily average volatility of 9.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FLXS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Flexsteel Industries to open at $37.30, and during the day (based on 14 day Average True Range), to move between $35.07 and $39.11, which gives a possible trading interval of +/-$2.02 (+/-5.46%) up or down from last closing price. If Flexsteel Industries takes out the full calculated possible swing range there will be an estimated 10.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.43 (0.92%) than the support at $34.00 (8.33%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Flexsteel Industries will release earnings BMO on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.560. We will update the financials statements for Flexsteel Industries, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.47% in the first trading day after earnings release.
Is Flexsteel Industries stock A Buy?
Flexsteel Industries holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.966 Sell Candidate Downgraded
Predicted Opening Price for Flexsteel Industries of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
$37.30 ( 0.553%) | $37.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLXS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.47 | 11.81 % | |
R2 | 39.88 | 7.51 % | ||
R1 | 38.89 | 4.85 % | ||
Current price: | 37.09 | |||
Support | S1 | 35.70 | -3.75 % | |
S2 | 34.71 | -6.40 % | ||
S3 | 33.12 | -10.70 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.31 | 11.38 % | |
R2 | 39.92 | 7.63 % | ||
R1 | 37.43 | 0.92 % | ||
Current price | 37.09 | |||
Support | S1 | 34.00 | -8.33% | |
S2 | 33.99 | -8.36% | ||
S3 | 33.90 | -8.60% |
FLXS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 25, 2024 | Mar 25, 2024 | Apr 04, 2024 | $0.150 | 0.376% |
2 | Dec 12, 2023 | Dec 27, 2023 | Jan 08, 2024 | $0.150 | 0.83% |
3 | Sep 12, 2023 | Sep 26, 2023 | Oct 09, 2023 | $0.150 | 0.744% |
4 | Jun 13, 2023 | Jun 27, 2023 | Jul 10, 2023 | $0.150 | 0.779% |
5 | Mar 07, 2023 | Mar 21, 2023 | Apr 03, 2023 | $0.150 | 0.769% |
FAQ
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